EE chief Olaf Swantee to step down
The chief executive of EE, Olaf Swantee, has announced that he will step down as soon as the company’s takeover by BT has been completed.
The takeover deal is currently approaching its final stages of approval and BT is expected to acquire the company formally at the start of February. Mr Swantee’s successor will be Marc Allera, who currently holds the post of chief commercial officer. It is expected that Mr Swantee will receive a payout of several million pounds.
Mr Swantee, who was previously an executive at Orange, arrived at EE more than four years ago to oversee the merger of Orange UK and T-Mobile, which became EE in 2010. The company has cut thousands of jobs and reduced the network of mobile masts since Mr Swantee took control, but has invested a great deal in new technology. He has overseen EE’s rise to become the first 4G operator in Britain.
EE has also moved into the provision of broadband and pay TV services. Mr Swantee stated that the decision to leave was a difficult one, but he feels the time is right. His successor, Mr Allera, was previously an executive at Three and has been leading the sales side of EE’s business.
The deal, which is seen as an important one in the telecoms market, will allow BT to move back into the mobile market after a 15-year gap. A final decision from the Competition and Markets Authority is expected in two weeks.